Truist Financial Corp Buys 2,219 Shares of Malibu Boats, Inc. (NASDAQ:MBUU)

Truist Financial Corp boosted its stake in Malibu Boats, Inc. (NASDAQ:MBUU) by 35.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,448 shares of the company’s stock after buying an additional 2,219 shares during the quarter. Truist Financial Corp’s holdings in Malibu Boats were worth $296,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of MBUU. Studio Investment Management LLC increased its position in shares of Malibu Boats by 264.4% during the second quarter. Studio Investment Management LLC now owns 707 shares of the company’s stock valued at $25,000 after acquiring an additional 513 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Malibu Boats during the 1st quarter valued at $84,000. SG Americas Securities LLC bought a new stake in shares of Malibu Boats during the 2nd quarter worth $139,000. Central Pacific Bank Trust Division purchased a new position in shares of Malibu Boats in the 1st quarter worth about $142,000. Finally, Benjamin Edwards Inc. grew its position in Malibu Boats by 36.5% during the first quarter. Benjamin Edwards Inc. now owns 3,573 shares of the company’s stock valued at $155,000 after buying an additional 955 shares during the period. 91.35% of the stock is currently owned by institutional investors.

Malibu Boats Price Performance

Shares of NASDAQ MBUU opened at $43.21 on Friday. The stock has a market capitalization of $883.21 million, a P/E ratio of -16.18 and a beta of 1.38. Malibu Boats, Inc. has a one year low of $30.20 and a one year high of $56.03. The firm’s 50 day simple moving average is $37.72 and its two-hundred day simple moving average is $36.65.

Malibu Boats (NASDAQ:MBUU) last issued its earnings results on Thursday, August 29th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.07). Malibu Boats had a positive return on equity of 6.21% and a negative net margin of 6.74%. The business had revenue of $158.70 million during the quarter, compared to analysts’ expectations of $157.54 million. During the same quarter in the previous year, the business earned $2.96 EPS. Malibu Boats’s revenue for the quarter was down 57.4% compared to the same quarter last year. As a group, equities analysts expect that Malibu Boats, Inc. will post 1.98 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. StockNews.com downgraded shares of Malibu Boats from a “hold” rating to a “sell” rating in a research report on Friday, August 30th. B. Riley reduced their price objective on Malibu Boats from $39.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Truist Financial restated a “hold” rating and issued a $32.00 target price on shares of Malibu Boats in a research note on Monday, July 8th. Finally, DA Davidson reiterated a “buy” rating and set a $45.00 price target on shares of Malibu Boats in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Malibu Boats has a consensus rating of “Hold” and a consensus price target of $40.00.

Malibu Boats Profile

Malibu Boats, Inc designs, engineers, manufactures, markets, and sells a range of recreational powerboats. It operates through three segments: Malibu, Saltwater Fishing, and Cobalt. The company provides performance sport boats, and sterndrive and outboard boats under the Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder, Hewes, and Cobalt brands.